Mobile Home Park Details
- Purchase Method: Cash, Seller Financing, New Loan, Assumable Loan
- Cap Rate: 11.0%
- Listing ID: 445698
- Posted On: May 28, 2014
- Updated On: Sep 5, 2014
Description
31 units on 10 acres, quiet, country park. All homes are park owned. Close to gate 2 of Fort Gordon. 28 mobile homes, 1 duplex, 1 single family home included. Park in desirable Columbia County--better schools are a huge draw, quiet area in the country surrounded farmland & woods, gravel/dirt roads, approval from the county to add more homes already granted.
Rents in the park are low and could be raised as high was $475+ per unit (current average is $375).
Owner financing or assumable debt possible with good credit and down payment.
3566 Gordon Highway, Grovetown, GA 30813, 10+ acres, approximately 4 miles from Gate 2 of Ft. Gordon Army Base, 14 minute drive to I-520. Ft. Gordon set to see 10% increase in workforce by 2018.
Amenities
- Storage
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Park Information
Community Type: | All Age |
Number of MH Lots: | 31 |
Total Occupancy: | 90.0 % |
Year Built: | 1975 |
Average MH Lot Rent: | $375 |
Size: | 10 acre(s) |
Financial Information (Actual)
Gross Income: | $127 |
Operating Expense: | $64 |
Net Operating Income: | $63 |
Expense Ratio: | 50.4 % |
Debt Info: | Seller Carry Back Note |
Lot Information
Singlewide Lots: | 27 |
Doublewide Lots: | 1 |
Triplewide Lots: | 0 |
Park Model Lots: | 0 |
Park-Owned Homes
Number of Park-owned Homes: | 31 |
Average Rent for Park-owned Homes: | $375 |